Essay Business Model And Strategic BALANCED SCORECARD Week 4

The Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan of Nicks Skin Care Products partnered with Marriott Hotels. This model and strategic plan will show how a company must employ researchers and marketers to create new ideas or products that will make his or her company stand out above competitors and get the attention from consumers. In the case of Nicks Skin Care, Marriott will offer guests a joyful and uplifting sensory experience through NICK’s Aromatic Wood Collection – a line that balances Nutmeg essential oil with the sweetness of Orange and Tangerine essential oils. NICKS a high-end amenities will be available in all Marriott Hotels properties throughout the US and Canada. Management will come up with a strategic plan on the direction of the company, which will include a balanced scorecard. A balance scorecard, which is an alternative approach linking operational and strategic control, developed by Harvard Business School professors Robert Kaplan and David Norton, is a system they named the balanced scorecard. According to Pearce, J. A. II. (2013) “The balanced scorecard is a management control system that enables companies to clarify their strategies, translate them into action, and provide quantitative feedback as to whether the strategy is creating value, leveraging core competencies, satisfying the company’s and generating a financial reward to its shareholders. . An organization is required to evaluate their performance in four key categories. The four key categories are financial perspective, customer value perspective, internal operations perspective, and growth perspective. These sets of measures are linked to the company’s strategy to link their long-term goals with tangible goals and actions. Financial Perspective Financial Perspective Shareholder value or financial perspective includes strategic objectives in area such as market share, revenues and costs, profitability, and competitive position.” The financial objective of Nicks is to remain committed to cost efficiency while improving the company’s competitive position. Nicks’ mission statement is to fulfil the beauty needs of the diversity of skins that make up the tapestry of our world by creating high-quality hair, body and skincare products, made with natural ingredients. To achieve the company’s mission and strategic financial objective, Nicks must remain focused on revenue growth by expanding revenue opportunity. With expansion plans in the next five years the company; ensure that fundamental training and development for new employees are in place. Customer value perspective includes strategic objectives in areas such as customer retention or turnover, customer satisfaction, and customer value.” Nicks management will determine how the company appears to their customers. Without customers, the company would not be in business. Customer satisfaction will not only improve the competitive position of the company but also increase market share. Services must be consistent with mission, values, and goals of the organization. Within customer value perspective, the company would hope to increase client satisfaction 15% each year for the next five years. This will ensure a successful start to the new merger. Management is responsible for hiring, training, and developing the most qualified caretakers within the facility. For Nick’s products, the customer perspective is the most important part of the scorecard. The majority of the company’s focus is on their customer’s satisfaction. The Internal Operations or internal operations perspective includes strategic objectives in areas such as measure of process performance, productivity or productivity improvement, and operations metrics.” Operations metrics allow the managers and employees know how will Nicks is running…

Strategic HRM Proposal
Cellular Service Provider
By: HR Director Nick Casura
Executive Proposal Summary
I am creating this proposed plan in order to address both our positive and negative aspects to our current business model and have not attained our previous goals. As an effect, we have fallen behind in our current market and now are third out of six companies in market share. I would like to implement some new goals and strategies to address the problems that we have currently…

ECO 316 Week 4 Chapter 24 Linking the Financial System and the Economy The IS-LM-FE Model contains:
24.1 Multiple Choice Questions
1) Why did the Fed cut interest rates in late 1991?
2) Why did the Fed cut interest rates in late 1998?
3) A general equilibrium is an outcome in which
4) The money market includes trade in
5) Purchases and sales of stocks, bonds, and houses take place
6) In macroeconomic models, Y typically represents
7) In macroeconomic models, Y stands…

Business Proposal
Pamela A. Chandler
ECO/561
September 1, 2014
Brian Aguiar
Business Proposal
There are four basic market structures in finance, which are perfect competition, monopoly, monopolistic competition, and oligopoly. The perfect competition has a few firms producing the same product and sold at market price. Entry barriers are low and the only thing deciding the sales is the price of the item or service. None of the firms can change prices making the demand curve horizontal or perfectly…

Business Model and Strategic Plan Part I
Patricia Pence
BUS/475
June 3, 2015
Jeffery Messinger
Company Definition
Luxury Adventures is a chartered yacht company that focuses on luxury adventures with amazing experiences. We provide exceptional adventures that our guests can access for magnificent destinations right at their doorstep. We currently have five yachts that accommodate 30 guests that genuinely provide an intimate voyage. Our adventures are energetic, interactive while being surrounded…

Business Model and Strategic Plan Part II: SWOTT Analysis Paper
BUS/475
March 16th, 2015
Business Model and Strategic Plan Part II: SWOTT Analysis Paper
External forces and trends:
The external environment has an indirect influence on the business and cannot be controlled by the business. The external environment can be classified into 2 types:
Micro environment- otherwise referred to as the task environment and operating environment. Such forces have a direct impact on the operations of an…

Business Model and Strategic Plan, Part I
Connie Berg
BUS/475
September 29, 2014
Dr. Abdel Mahdi Al Husseini
Business Model and Strategic Plan, Part I
In the world of computers, software, and digital devices innovation is the key to having the upper hand. When it comes to staying ahead of the competition Hewlett-Packard Development Company LP has figured out a way to stay at the top. As one of the lead runners in the world of technology Hewlett-Packard has established itself in the global…

AstraZeneca
Strategic Business Analysis - Group Case Study
Case Abstract
Introduction AstraZeneca PLC (AstraZeneca, AZN:NYSE, AZN:LSE) is one of the largest pharmaceutical companies in the world. It was formed in 1999 from the merger of Sweden’s Astra AB and UK’s Zeneca Group plc. Core Activities AstraZeneca is engaged in the discovery, development, manufacturing and marketing of prescription pharmaceuticals and biological products for important areas of healthcare: Cardiovascular, Gastrointestinal…

final exam
1. How can IT be used as a key driver of business value?
The fascination with IT-enabled business innovation comes at a time of significant uncertainty and change as entrenched players and new entrants struggle to define a sustainable proprietary position for success in the turbulent twenty-first century. While most agree that Internet-based technologies have progressed at lightning speed since they were introduced to the business world in the early to mid-1990s, developing common s…

Words 1069 - Pages 5

* Test names and other trademarks are the property of the respective trademark holders. None of the trademark holders are affiliated with this website.